According to Brand Finance City Index 2023, Lagos, Nigeria’s commercial hub, is the fifth greatest African city to live, work, and invest.
The report’s ranking is based on a global survey of over 15,000 members of the general public conducted in 20 countries in April 2023.
According to the survey, Lagos is 56.7 percent behind Casablanca (Morocco) in terms of assessments of the world’s top 100 cities.
It put Cape Town (South Africa), Cairo (Egypt), Johannesburg (South Africa), and Casablanca (Morocco) as the top four best African cities, with scores of 62.9, 60.7, 59.7, and 593 percent, respectively.
Nairobi, the capital of Kenya, also ranked as the sixth African city with 55.1 per cent.
Cape Town, Cairo, Johannesburg, Casablanca, Lagos, and Nairobi are the only six African cities ranked among the top 100 in the world, at 60, 67, 72, 76, 90, and 94, respectively.
London ranked as the world’s best city for living and working
In the rating, London (England) is declared the world’s finest city brand with 84.6 percent, followed by New York (the United States) and Paris (France) with 83.0 and 79.7 percent, respectively.
The Chairman and CEO of Brand Finance, David Haigh said, “London’s exceptional performance in the Index can be attributed to its global familiarity. Coming first on this particular measure, London has a huge advantage over its peers, leading to its success in ranking overall as the world’s best city.”
David also noted that “Knowing a city allows the public to form positive perceptions about it – to recognise its reputation and to consider it as the preferred place to live, work, study, retire, visit, or invest.”
The CEO further explained that “High familiarity means a deeper understanding of its qualities and a broader reach of its appeal, allowing the city to draw significant economic benefits from inbound migration, investment, and tourism.”
The report also noted that Zurich (Switzerland) which ranked 17th on the global table with 72.0 per cent is the best city in the world for investment.
